The U.S.-China trade war has reignited, with tensions escalating the moment former President Donald Trump’s tariffs took effect. This latest economic clash marks a new phase in the ongoing rivalry between the world’s two largest economies.
China swiftly retaliated, imposing its own tariffs and launching an antitrust investigation into Google. With both nations now locked in another trade battle, concerns grow over the impact on the global economy and American consumers.
Tariffs, which are taxes on imports, make foreign goods more expensive. While they aim to protect domestic industries, they often lead to higher consumer prices and trade conflicts. Experts argue that tariffs typically reduce trade, increase costs, and provoke retaliation, as seen in past U.S.-China disputes.
Trump’s latest executive order extended tariffs on imports from Canada, Mexico, and China, escalating trade tensions and raising concerns about economic consequences worldwide.
